Management Buy-out at Pultrex

22 July 2003

In line with Pacific Composites’ plans to concentrate on composites manufacturing, it has sold its equipment manufacturing business, Pultrex to a management team.

The business will continue to trade as usual under the Pultrex name, but the new joint owners are Managing Director Colin Leek, and Douglas Curtis Machine Tools Limited. Curtis seamlessly took over the manufacture of Pultrex machines 2 years ago when the decision was made to outsource the manufacturing.

The acquisition will widen the scope for Pultrex to forge technological partnerships for the development of innovative processes, and will further strengthen the engineering excellence for which Pultrex is known.

In 2001, Pultrex sought a manufacturing partner for its range of pultrusion machines, and special module based filament winding machines. ‘Curtis’ were chosen because of the high level of technological synergy, with the manufacturing capability to further enhance the standards of precision which will be demanded by the processes of tomorrow. Rick Curtis, the ‘Curtis’ group chairman said, “We were seeking to expand outside the automotive capital equipment market, and the manufacturing agreement with Pultrex worked really well. Pacific Composites were sympathetic to the need for a change of environment for Pultrex, and have done an excellent job in facilitating the change of ownership. The future promises to be very exciting and rewarding.”

Pultrex will continue with the same management and premises, and will maintain it’s full product range. This new collaboration will enable Pultrex to be more adventurous and take a more customer oriented approach to innovation and problem solving. Pultrex have been very successful in bucking the trend to global recession, with a healthy order book and a dynamic attitude to the future.

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